Stocks end mostly higher after mortgage deal

Buckshot the bull is corralled in front of the New York Stock Exchange, Thursday Jan. 8, 2009, in conjunction with opening bell ceremonies to be rung by the Professional Bull Riders, Inc.

A deal to help head off more mortgage foreclosures pulled Wall Street out of a slump Thursday, giving stocks a mostly higher close. Democratic lawmakers reached an agreement with Citigroup Inc. on a plan to let bankruptcy judges alter loans in an effort to prevent homes from going into foreclosure. Other lenders are expected to follow suit.

Cushman & Wakefield exec to launch own real estate firm

Tere Blanca, a top commercial real estate executive in Florida and current chair of Miami-Dade County's economic development arm, The Beacon Council, is going out on her own.

FEDERAL COURT

Pharmed co-founders get 9 years for fraud

Once revered as charitable businessmen, brothers Carlos and Jorge de Céspedes will be going to prison for defrauding a South Florida hospital.
- Pharmed ex-owners face prison in $5 million fraud
- Previous coverage | Soaring rise, rapid fall for Pharmed

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ACTION LINE

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Magnet school can use dog insulin
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AVIATION

Chalk's, AIG sue seaplane manufacturer

Two lawsuits were recently filed against the manufacturer of the Chalk's seaplane that crashed three years ago in Miami Beach, alleging that the aircraft was defective.
- Document | Read the lawsuit

TOURISM

Welcome centers, Florida tourism ads may be axed

Lawmakers are considering a $13 million budget cut for Visit Florida -- the public-private program that promotes tourism in the state.
- Message Boards | News and Politics
- State reconsiders Port of Miami tunnel project

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ENERGY

Venezuela reinstates oil program for the needy in U.S.

The government of Venezuela has decided to reinstate a program that provides free heating oil to the poor i...
ECONOMY

Obama: Dire economy requires bold action

President-elect Barack Obama campaigns for a plan that includes unprecedented spending as well as tax cuts ...
National Association of Home Builders push $150 billion plan

With lawmakers angling to pass an economic recovery package by the middle of next month, desperate home bui...
Bed Bath & Beyond profit drops

Home decor chain Bed Bath & Beyond (BBBY) said its third-quarter earnings fell more than 36 percent as reve...
LG Electronics plans wrist phone

It looks like Dick Tracy may finally get his wristwatch cellphone, the one that does video calls. LG Electr...
Drug-maker Wyeth in acquisition talks with Crucell NV

Drug-maker Wyeth is in preliminary acquisition talks with Dutch vaccine maker Crucell NV, according to a st...
FPL subsidiary now NextEra Energy Resources

FPL Group (FPL) has changed the name of its wholesale-energy subsidiary from FPL Energy to NextEra Energy R...
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China names more Web sites for vulgar content

China has expanded its campaign against pornography and vulgar content online, naming more than a dozen Web...
China's struggling airlines get tax break

China is taking new steps to shore up its aviation industry amid global economic turmoil, giving struggling...
Bank of Korea cuts key rate to 2.5 percent

South Korea's central bank cut its key interest rate Friday for the fifth time in just three months to help...
Number of jobs keeps falling, unemployment claims up

New economic reports this week suggest that the Labor Department will report dismal unemployment numbers Fr...
More than 100 Rome flights canceled by protest

More than 100 flights at Rome's main Leonardo da Vinci airport have been canceled by a ground workers prote...
Finding a new job becomes harder as layoffs mount
Job cuts reach into oil sector

Job cuts that have afflicted almost every sector of the economy reached into the oil industry Thursday, as ...
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U.N. advisor: Asia should tap into currency reserves

Asia should tap its $4 trillion in currency reserves to avoid a significant economic downturn through publi...
EU urged to approve funds for upgrades

EU Commission President Jose Manuel Barroso called Wednesday on European Union governments to approve a 5 b...
INDIA

Satyam Computer Services admits huge accounting fraud

India's fourth-largest IT firm is in grave trouble after its president resigned, claiming years of fraudule...
Recent grads in China to get employment help

China announced a series of measures Wednesday aimed at helping millions of recent college graduates find w...
UKRAINE

Russian gas cutoff hits Europe hard

Prime Minister Vladimir Putin ordered gas monopoly Gazprom to stop all shipments through Ukraine.
British retailer files for bankruptcy

Clothing store Viyella became the latest long-standing British retailer to succumb to dire retailing condit...
ENERGY

Venezuela reinstates oil program for the needy in U.S.

The government of Venezuela has decided to reinstate a program that provides free heating oil to the poor i...
» More